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A bond with a $1,000 par value has an 8.35% coupon rate. It will mature in 5 years, and coupon payments are made semi-annually. Present
A bond with a $1,000 par value has an 8.35% coupon rate. It will mature in 5 years, and coupon payments are made semi-annually. Present annual yields on similar bonds are 7.35%. What should the current price be;
a $1,015.06
b $1,020.15
c $1,035.36
d $1,041.22
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